BAKU, Azerbaijan, Feb. 8
Trend:
The switch to a balanced asset allocation will be completed in Kazakhstan in 2022, Chairman of the country’s National Bank Galymzhan Pirmatov said at the governmental meeting, Trend reports via the bank.
According to Pirmatov, protective and balancing strategies to minimize the impact of an equity market correction will be also implemented this year.
In 2021, the assets of the National Fund (NF) decreased to $55.3 billion due to the allocation of transfers for 4.5 trillion tenge ($10 billion) with revenues of 2.7 trillion tenge ($6.3 billion).
Despite the market volatility, the NF's yield of $2.3 billion (4.2 percent) was ensured.
Gold and foreign currency reserves for 2021 lowered by $1.3 billion to $34.4 billion due to a reduction in freely convertible currency assets (by $1.2 billion) for payment of government debt, foreign exchange interventions and other operations on the accounts of the government.
Gross international reserves in 2021 amounted to $89.7 billion (down by $4.7 billion).